New Delhi, Nov 8 (TIWN) Driven by pent-up and deferred demand, India's online furniture and home market is geared up to reach $40 billion in the next five years, a new report showed on Monday.

This will enable 5x GMV (gross merchandise value) growth for the category over FY21-26, according to data provided by Bengaluru-based market research firm ResSeer. 

The online furniture category is seeing a steep growth with more and more shoppers putting trust in online for-high ticket furniture purchases.  “Similarly, the online home category is expected to see a growth of 2.5x in shoppers in the next 5 years with a 1.3 jump in the annual spending per shopper to indicate 4x GMV growth,” the report forecast.